The oil industry is buzzing. On Thursday, the government approved the development of the biggest depositdiscovered in British territory for at least 10 years. Everywhere we are told that this is a "huge"find, which dispels the idea that North Sea oil is in terminal decline. You begin to recognize how serious thehuman predicament has become when you discover that this "huge" new field will supply the world withoil for five and a quarter days.[1]